36
36
Jul 21, 2015
07/15
by
CSPAN2
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eye 36
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, new flat tax a chance for tax, sales tax or some hybrid that combines elements of all those taxes. they are all getting us to the same place a rather than fighting over what we want the user interface, we want the taxpayers to hallett to actually pay the tax we should be saying that we are on the same page we want the consumption tax and the low rate and understand a benefits that will result if we get something like that. leave the attacks reform debate has shifted somewhat. for a long time the tax reform traditional tax reform was both revenue and distribution neutral. back in 2012, mitt romney's tax plan was a revenue-sharing -- for the same revenue as the current system it didn't shift the tax burden up or down. last year chairman of the ways and means committee david camp at a bill that was revenue and industry neutral. this year however, that hole constrained has changed. there is a plant that is both a big tax cut, is a big tax cut we are not sure what the distribution is, we will learn about that as we go forward and center paul put a tax reform plan, i call these the new g
, new flat tax a chance for tax, sales tax or some hybrid that combines elements of all those taxes. they are all getting us to the same place a rather than fighting over what we want the user interface, we want the taxpayers to hallett to actually pay the tax we should be saying that we are on the same page we want the consumption tax and the low rate and understand a benefits that will result if we get something like that. leave the attacks reform debate has shifted somewhat. for a long time...
31
31
Apr 13, 2015
04/15
by
CSPAN2
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eye 31
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the flat tax the fair tax the national sales tax and the x tax for example. for decades there has been a a constant hype to find new things are activities. regard to seeing gas tax, cigarette tax and for a short time so the tax now ideas for a carbon tax and the value added tax look at the surface. nary a stone has been left unturned. one can't help wish that energy were diverted to something more productive. high taxes and high taxes and increased complexity are only a symptom of a larger problem's. demands for more spending in one area and successful resistance has been largely unsuccessful. for the for the most part this year's budget appears to be an achievement. without much-needed reform to entitlements this achievement will be short-lived. in addition to controlling spending it is essentially get the economy growing. many of our current woes would be alleviated by robust economic growth. i should not have to sell the benefits of this. millions of people returning to the workforce roles and taking themselves off food stamps. stamps. however, it does not
the flat tax the fair tax the national sales tax and the x tax for example. for decades there has been a a constant hype to find new things are activities. regard to seeing gas tax, cigarette tax and for a short time so the tax now ideas for a carbon tax and the value added tax look at the surface. nary a stone has been left unturned. one can't help wish that energy were diverted to something more productive. high taxes and high taxes and increased complexity are only a symptom of a larger...
46
46
Jul 22, 2015
07/15
by
CSPAN2
tv
eye 46
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senators put a tax form plan both a big tax cut, or is a big tax cut. i think we're unsure what it does to tax distribution. i think we'll learn more about that as we go forward. and then senator paul put out a tax reform recently. i call these the new generation of tax reform. and they have a great -- they have a huge benefit. they can be much more pro-growth than traditional revenue and traditional tax reform. if you look at the tax foundation found they found it would grow the economy by 15%. chairman is getting 1% or 2% growth. they can also -- one of the things that happens when you do tax reforms is you set winners and losers. it's just the nature of doing tax reform. when you have revenue neutral tax reform probably end up with more winners than losers, but you'll have an awful lot of losers that will scream really loudly. you can make a lot more people a lot better off and make it easier to pass. all that said, it does come with challenges, though. we are obviously on a tight budget environment here in washington. our friends on the left will im
senators put a tax form plan both a big tax cut, or is a big tax cut. i think we're unsure what it does to tax distribution. i think we'll learn more about that as we go forward. and then senator paul put out a tax reform recently. i call these the new generation of tax reform. and they have a great -- they have a huge benefit. they can be much more pro-growth than traditional revenue and traditional tax reform. if you look at the tax foundation found they found it would grow the economy by...
8
8.0
May 6, 2021
05/21
by
CSPAN2
tv
eye 8
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tax gaming to pay less tax. both of these shenanigans are harmful to the economy and creating a level playing field. address these problems the academic analysis of this issue recommends 50% conformity. we currently have 0% grade the real corporate property taxes loopholes would effectively. 25 or send -- while the turning shenanigans and raising funds for public investment for this to be a meaningful step towards fixing our broken cat corporate tax system so it will help level the playing field the tour armful accounting shenanigans all while raising funds. third and most important i cannot emphasize enough our existing income tax is broken urgently need of reform for the ordinary rich like a doctor can pay quite a bit of income tax but it falls apart when -- the economic literature finds an average billionaires and millionaires only ever put less than a quarter of their income to the irs ever and qualify for tax preferences. estimates often find these billionaires only report around 2% of income to the irs. th
tax gaming to pay less tax. both of these shenanigans are harmful to the economy and creating a level playing field. address these problems the academic analysis of this issue recommends 50% conformity. we currently have 0% grade the real corporate property taxes loopholes would effectively. 25 or send -- while the turning shenanigans and raising funds for public investment for this to be a meaningful step towards fixing our broken cat corporate tax system so it will help level the playing...
33
33
Jul 27, 2015
07/15
by
CSPAN3
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eye 33
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tax. it started off in the '90s with the schaefer plan and then we went to the fair tax which is a 23% national retail sales tax on goods and services and you can learn about it at fairtax.org and i won't go into the mechanics and i'll be happy to answer questions as we come about, but i think we're all talking about taxing consumption. i'm talking about what i consider to be the purest way of taxing consumption which is at the retail level. there are a couple of things that have been said they really believe are important. most of the other in fact, most of the other plans which involve using the income tax as a part of a way to do this require each of you in the audience as individuals to file a return. i don't know whether you remember dick armey used to hold up his -- i debated him his one-page tax return and i would hold up mine because individuals don't have a tax return. corporations no longer have the deadweight cost of having to comply with either of that which they're doing in eu
tax. it started off in the '90s with the schaefer plan and then we went to the fair tax which is a 23% national retail sales tax on goods and services and you can learn about it at fairtax.org and i won't go into the mechanics and i'll be happy to answer questions as we come about, but i think we're all talking about taxing consumption. i'm talking about what i consider to be the purest way of taxing consumption which is at the retail level. there are a couple of things that have been said they...
8
8.0
Nov 5, 2020
11/20
by
CSPAN3
tv
eye 8
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tax code and particularly to the income tax. tax groups continue to attract new members in the early 1970s. according to groups, by 19,712 million taxpayers had joined local tax organizations. these tax protesters defined easy categorization. some seemed to embody the popular image of the white back lar and whilash, and popular mi class owners in arkansas, in california, in massachusetts, veterans of the welfare rights and civil rights' movements used their organizational expertise to mobilize low income taxpayers and to direct public attention to corporate and wealthy tax avoiders. this agenda became more central to reconstruction in the wake of george mcgovern's defeat in 1972 and in the following january 1973, former senator fred harris who also lost his job in the election of 1972, an oklahoma liberal announced plans to lead a taxpayer revolt aimed at reforming america's tax laws and getting the ritual welfare. the group called the new populist action planned a national tax action day for april 16, 1973, the filing deadline
tax code and particularly to the income tax. tax groups continue to attract new members in the early 1970s. according to groups, by 19,712 million taxpayers had joined local tax organizations. these tax protesters defined easy categorization. some seemed to embody the popular image of the white back lar and whilash, and popular mi class owners in arkansas, in california, in massachusetts, veterans of the welfare rights and civil rights' movements used their organizational expertise to mobilize...
44
44
Dec 5, 2016
12/16
by
CSPAN3
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eye 44
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we've got fair tax and flat tax and abc tax and jumpstart tax. we have provisions smart ideas on tax reforms so we had the same dynamic. third dynamic then was we had a president willing to lead on tax reform. today we have a new president coming into office, willing to lead on tax reform. those dynamics that existed for the '86 reforms have reoccurred again in a major way. this is a unique opportunity for us to do what most americans have given up hope ever will happen, but it's a dramatic opportunity to leapfrog america back into the most competitive place on the planet to create that new job and we're determined to deliver on that. so thank you very much for having me here today. [ applause ] >> if our panel to like to join us here on stage we'll continue the discussion. and i will turn the program over to my colleague -- >> two is in my name this time. >> david burton, when we're talking i always want to call you dan burton, so excuse me if i slip into that. just like you, david. david burton serves as our senior fellow in our thomas a. rowe
we've got fair tax and flat tax and abc tax and jumpstart tax. we have provisions smart ideas on tax reforms so we had the same dynamic. third dynamic then was we had a president willing to lead on tax reform. today we have a new president coming into office, willing to lead on tax reform. those dynamics that existed for the '86 reforms have reoccurred again in a major way. this is a unique opportunity for us to do what most americans have given up hope ever will happen, but it's a dramatic...
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48
Oct 14, 2018
10/18
by
CSPAN
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eye 48
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tax base, and how low is the tax rate. we reward states that have a neutral tax system, broad-based, low rate, which is the general agreement of what makes a good tax system. host: what taxes are you looking at? are you looking at corporate, individual, unemployment? --employment? guest: we're looking at everything. individual, sales, corporate, property, and unemployment insurance. we have rankings for each of those components. if you are interested in one particular tax, you can look at that. we have an overall ranking where we take over 100 variables we look at to examine. we maybe even give some options for improvement for policymakers to look at in their tax system. foundationthe tax have any political or ideological view about taxes in this report? we are an independent organization, nonpartisan. sometimes people don't know exactly where to put our analysis because we do want from bases and low rates -- broad-based and low rates because that is the most efficient way to collect for government services. critical of so
tax base, and how low is the tax rate. we reward states that have a neutral tax system, broad-based, low rate, which is the general agreement of what makes a good tax system. host: what taxes are you looking at? are you looking at corporate, individual, unemployment? --employment? guest: we're looking at everything. individual, sales, corporate, property, and unemployment insurance. we have rankings for each of those components. if you are interested in one particular tax, you can look at that....
80
80
May 16, 2017
05/17
by
CSPAN
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eye 80
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corporate income tax, but all business tax. no business ever paid a tax, they collect tax. they collect tax on somebody else and you want to know who pays the tax? well, we don't know. we have estimates in the aggregate as shares of the corporate income tax between capital and labor, but that doesn't mean you know you paid it. everybody in this room paid business tax, but you have no idea how much. if you've ever saved a dollar put in a 401(k) and bought a stock, you have paid corporate income tax. can you tell me how much? you never will, because the essence of the corporate income tax, the reason it's so perfect for the nature of the government we have -- they are a good revenue collector. we will all acknowledge corporate income tax collects a fair amount of money with relatively modest expense in doing so. a lot of expense in terms of economic effects. why do we like taxing businesses so much? because nobody knows who paid the tax. that's my one philosophical note for the day. >> okay. other questions? i would build on that
corporate income tax, but all business tax. no business ever paid a tax, they collect tax. they collect tax on somebody else and you want to know who pays the tax? well, we don't know. we have estimates in the aggregate as shares of the corporate income tax between capital and labor, but that doesn't mean you know you paid it. everybody in this room paid business tax, but you have no idea how much. if you've ever saved a dollar put in a 401(k) and bought a stock, you have paid corporate income...
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58
Apr 13, 2013
04/13
by
FBC
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eye 58
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income tax. there are sneaky taxes that most of you may not even know about that. >> we pay them all day long from the moment i wake up and turn on the light. i pay more when i brush my teeth, license my dog, my building pays property taxes and when they leave home to take the subway i paid the metropolitan commuter one negative commuter tax. i make phone calls or get a bite to eat, soda and drink drink, when a gas up my car as much as one-quarter of the price is the state and city excise taxes. people pay sales taxes all day long. so many taxes. i need a drink. i am lucky i don't smoke. this is one reason american economic growth has stalled says scott hodge president of the tax foundation. when i think of these rules i think of safety regulations and the constant spiderweb not the tax code. we have done okay with the tax code. >> the tax code is a mess because of the 70,000 pages that dictate virtually every aspect of our lives and cost americans 6 billion hours of our time just to comply. six
income tax. there are sneaky taxes that most of you may not even know about that. >> we pay them all day long from the moment i wake up and turn on the light. i pay more when i brush my teeth, license my dog, my building pays property taxes and when they leave home to take the subway i paid the metropolitan commuter one negative commuter tax. i make phone calls or get a bite to eat, soda and drink drink, when a gas up my car as much as one-quarter of the price is the state and city excise...
32
32
Dec 1, 2017
12/17
by
CSPAN2
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eye 32
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we can have tax reform, tax reform that is bipartisan, tax reform that can be permanent, tax reform that creates stability, tax reform that creates growth, not just for companies but growth for american workers' wages, and that creates a better economy for all. but this deal? this is a bad deal for the american people. and they deserve much better. with that, mr. president, i yield the floor. and i observe the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. mcconnell: mr. president? the presiding officer: the majority leader. mr. mcconnell: i ask consent that further proceedings under the quorum call be dispensed with. the presiding officer: without objection. mr. mcconnell: i ask unanimous consent the senate in a period of morning business with senators prompted speak for up it ten minutes each. the presiding officer: without objection. mr. mcconnell: i ask unanimous consent the appointments at the desk appear separately in the record as if made by the chair. the presiding officer: without objection. mr. mcconnell: i ask unanimous consent that
we can have tax reform, tax reform that is bipartisan, tax reform that can be permanent, tax reform that creates stability, tax reform that creates growth, not just for companies but growth for american workers' wages, and that creates a better economy for all. but this deal? this is a bad deal for the american people. and they deserve much better. with that, mr. president, i yield the floor. and i observe the absence of a quorum. the presiding officer: the clerk will call the roll. quorum...
3,542
3.5K
Apr 26, 2017
04/17
by
CSPAN3
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quote 5
we are going to cut taxes and simplify the tax code by taking the current seven tax braekts we have today and reducing them to only three brackets. a 10% bracket, a 25% bracket and a 35% bracket. we'll double the standard deduction so that a married couple won't pay any taxes on the first $24,000 of income they earn. so in essence, we are creating a zero tax rate, yes, a zero tax rate for the first $24,000 that a couple earns. the larger standard deduction also leads to simplification because far fewer taxpayers will need to itemize. which means their tax form can go back to the one simple page that i talked about earlier. families will benefit from tax relief to help phlegm child and dependent care expenses. we'll repeal the alternative minimum tax. the amt creates significant complications and burdens which require taxpayers to do their taxes twice to see which is higher. that makes no sense and we should have one simple tax code. as we all know job creation and economic growth is the top priority of the administration. nothing drives economic growth like capital investment. therefore,
we are going to cut taxes and simplify the tax code by taking the current seven tax braekts we have today and reducing them to only three brackets. a 10% bracket, a 25% bracket and a 35% bracket. we'll double the standard deduction so that a married couple won't pay any taxes on the first $24,000 of income they earn. so in essence, we are creating a zero tax rate, yes, a zero tax rate for the first $24,000 that a couple earns. the larger standard deduction also leads to simplification because...
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26
Apr 16, 2014
04/14
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CSPAN
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eye 26
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a flat tax or a sales tax. host: if you put a flat tax at the federal level on top of the sales and use taxes we already have at the state it would be very, very regressive. idea of fairness in "the washington post" talks about the marriage penalty. i married people treated differently tax wise than single and is it fair? guest: another feature of the income tax system. we have four if it filing options depending on your marital status. -- four different filing options. that is three too many. should be one. we have all sorts of special provisions depending on how many children you have an depending on your marital status. it is very complex and unnecessary. guest: there is a marriage penalty if both spouses work that if only one spouse works there is a bonus because you basically get to use your spouse's tax bracket. does trade working couples definitely than it treats people that have one spouse staying at home. host: washington, d.c. go ahead. democrats line. myler: thank you for taking call. i had a comment
a flat tax or a sales tax. host: if you put a flat tax at the federal level on top of the sales and use taxes we already have at the state it would be very, very regressive. idea of fairness in "the washington post" talks about the marriage penalty. i married people treated differently tax wise than single and is it fair? guest: another feature of the income tax system. we have four if it filing options depending on your marital status. -- four different filing options. that is three...
41
41
Nov 3, 2017
11/17
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CSPAN
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eye 41
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pay property taxes. so everyone throughout the united states of america, tens of millions of people are going to be hurt by this republican tax plan. because the limitations on deductibility related to state and local taxes, because of the draconian limitations on deducting property taxes. because of the limitations placed on middle class homeowners as it relates to the mortgage interest deduction. you can't make this stuff up. the republican tax plan is nothing more than a ponzi scheme. to provide a dwinsd fall to millionaires aened billionaires. the wealthy and to the well off. to special interest corporations. and to hide it in the notion that it's a middle class tax cut. the republican tax plan won't help the middle class. it will hurt the middle class. it's a ponzi scheme. it will undermine medicare and medicaid. t will impose billions and billions of dollars in additional deficit. it will force your children and grandchildren to shoulder in ximately $1.5 trillion additional debt. in this is all bei
pay property taxes. so everyone throughout the united states of america, tens of millions of people are going to be hurt by this republican tax plan. because the limitations on deductibility related to state and local taxes, because of the draconian limitations on deducting property taxes. because of the limitations placed on middle class homeowners as it relates to the mortgage interest deduction. you can't make this stuff up. the republican tax plan is nothing more than a ponzi scheme. to...
40
40
Nov 14, 2017
11/17
by
FOXNEWSW
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eye 40
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tax rate goes to 25% to 12%. $1300 tax cut. take a look at the tax cuts in here. lowering the tax rates, doubling the synergy diction. if you have kids, the credit per child. we are basically saying instead of giving you a tax cut for one thing you get or one thing you do at one time, why don't we lower your tax rates for all time and let you do whatever you want with your money. there's a philosophical difference. the way the code works is you pay your taxes, you do certain things. you spend your money to washington and maybe you will get some money back if you do what they approve of. in this case, it's got to be qualified tuition reimbursement system. lots of hoops and loopholes. we are saying let's get rid of the loopholes and give you your money. let people keep more of their own tax dollars in the first place. take less money out of your pocket come out of your paycheck to begin within you decide decide what you want to do. the median household in america makes about $59,000. the person who runs the household is going to get a $1182 tax cut the first year. t
tax rate goes to 25% to 12%. $1300 tax cut. take a look at the tax cuts in here. lowering the tax rates, doubling the synergy diction. if you have kids, the credit per child. we are basically saying instead of giving you a tax cut for one thing you get or one thing you do at one time, why don't we lower your tax rates for all time and let you do whatever you want with your money. there's a philosophical difference. the way the code works is you pay your taxes, you do certain things. you spend...
12
12
Nov 16, 2017
11/17
by
CSPAN3
tv
eye 12
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of tax rates or tax policy. congressional scorekeepers have assumed that if the individual mandate were to be repealed, a segment of people will opt voluntarily to not get health insurance. the assumption extends even to those who currently get their insurance for free under medicaid. jct began with an assumption that some people in the lower income brackets will opt to not purchase health insurance and thus not take advantage of available tax credit subsidies. without those credits, they see an overall uptick in their tax liability. i do not fault jct for this. they have to make assumptions in order to make credible projections. however in the world that exists outside of those assumptions, people will be making their own choices. in fact, our bill will give them additional freedom to do so. nothing in our mark will impact the availability of premium subsidy credits. nothing in the mark would direct or suggest to taxpayers they should not take advantage of the credits. this is the result of an assumption about
of tax rates or tax policy. congressional scorekeepers have assumed that if the individual mandate were to be repealed, a segment of people will opt voluntarily to not get health insurance. the assumption extends even to those who currently get their insurance for free under medicaid. jct began with an assumption that some people in the lower income brackets will opt to not purchase health insurance and thus not take advantage of available tax credit subsidies. without those credits, they see...
1
1.0
Oct 12, 2022
10/22
by
RUSSIA24
tv
eye 1
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individuals transport tax land tax tax authority sent about 68 million in tax notices. of these, 40% were sent through the taxpayer's personal account in electronic form. well, the remaining tax notices were sent by ordered letters with acknowledgment of receipt. everyone should already get so within a short time. i think it's the first half of october. those who receive tax notices ordered letters of acknowledgment of receipt. they already get information from post offices about the possibility of receiving their tax notices. but, and those who receive a tax notice in electronic form. through a personal account, of course. these tax notices are already posted there. well, what will we see this year, but i must say that for each tax occurred. uh, significant changes to everything related to the vehicle tax. let's start with it, then on perhaps i will name two such significant changes. the first is a new list of cars. average cost from 3 million rub. which is posted on the website of the ministry of industry and trade of russia annually and so to calculate the tax for th
individuals transport tax land tax tax authority sent about 68 million in tax notices. of these, 40% were sent through the taxpayer's personal account in electronic form. well, the remaining tax notices were sent by ordered letters with acknowledgment of receipt. everyone should already get so within a short time. i think it's the first half of october. those who receive tax notices ordered letters of acknowledgment of receipt. they already get information from post offices about the...
31
31
Apr 29, 2016
04/16
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CSPAN3
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eye 31
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lowering tax rates and broadening the tax base. you mentioned that corporate integration could potentially be a path forward. i'm preparing a corporate integration proposal that i think will help address many of the problems we see. now, would you both elaborate to what extend corporate integration in general can strengthen the competitiveness, encourage more business activity in the united states and go a long way in addressing multiple tax issues that we are certainly going to be faced with and seeing today including inversions and earning stripping and i would like to hear your comments as well. let's start with dr. hines and then toad. >> thank you. a thoughtful corporate integration reform certainly could address some of the competitiveness issues that face american businesses. but as long as the united states maintains a world wide tax system, we're never going to be competitive relative to anyf o the g 7 systems. so, i sort of understand the speart of the question in that if we had corporate integration along with other bene
lowering tax rates and broadening the tax base. you mentioned that corporate integration could potentially be a path forward. i'm preparing a corporate integration proposal that i think will help address many of the problems we see. now, would you both elaborate to what extend corporate integration in general can strengthen the competitiveness, encourage more business activity in the united states and go a long way in addressing multiple tax issues that we are certainly going to be faced with...
44
44
Nov 13, 2017
11/17
by
CSPAN3
tv
eye 44
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in tax. again, these are the real numbers. take a look at them. go online yourself and take a look at them. and you'll see that every single income group in the middle class gets a tax cut. again, it's meaningful and substantial. but let me finally say that i think watts going to be just as meaningful and maybe more meaningful for most of the families i represent is the fact they'll be able to have a better job. that's why we have to reform and revamp this international system. outrageous that we currently have jobs and investment going overseas because of our tax code. 4700 companies, according to a recent study by ernst and young, would be american companies today if we had this kind of a code in place over the last 13 years. instead, they're foreign companies. three times as many u.s. companies are bought by foreign companies as u.s. companies buying them. why? because of our tax code. we should be outraged by that. it's our responsibility to fix it. no one else can. and by the way, who ge
in tax. again, these are the real numbers. take a look at them. go online yourself and take a look at them. and you'll see that every single income group in the middle class gets a tax cut. again, it's meaningful and substantial. but let me finally say that i think watts going to be just as meaningful and maybe more meaningful for most of the families i represent is the fact they'll be able to have a better job. that's why we have to reform and revamp this international system. outrageous that...
26
26
Aug 31, 2017
08/17
by
CSPAN
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eye 26
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taxes, and as time went on, we moved to taxes. now, what president trump is talking about, from 35 to 15%, and not even mentioning what the middle class is supposed to get in savings, saying that all he has overlooked that somehow, people do not seem to believe that republicans are for the wealthy! even in the last eight years, the money they have been making not seenealthy, i have any full-time jobs, just part-time jobs, with hardly no benefits. now he is talking about lowering the taxes from overseas, to this country. it seems like everything that ran on, he is not fulfilling his promises. i'm not even talking about obamacare, i'm talking about taxes. host: in the washington post, there is a report from the washington institute of policy studies, which comes solidly against argument, asserting that more tax that reap savings are not likely to expand their workforce. since the tax code is full of loopholes, most firms already pay less than 35%. the average rate for taxes for most businesses with 22% three 2007 and 2011. fran, in
taxes, and as time went on, we moved to taxes. now, what president trump is talking about, from 35 to 15%, and not even mentioning what the middle class is supposed to get in savings, saying that all he has overlooked that somehow, people do not seem to believe that republicans are for the wealthy! even in the last eight years, the money they have been making not seenealthy, i have any full-time jobs, just part-time jobs, with hardly no benefits. now he is talking about lowering the taxes from...
19
19
Jun 6, 2017
06/17
by
CSPAN3
tv
eye 19
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incpo tax. we are not having a conversation in washington about changes to the payroll tax system. someone could introduce that topic. and we are not having a conversation about changes to federal excise taxes and washington is not having a conversation about how the states should change their tax systems. so for the individual, low and moderate income household, they're facing all sorts of taxes but the tax reform debate is primarily related to income tax. i'll just say two specific things about how i think about how they -- how those two taxes affect workers. with respect to the individual income tax, i think about tax policy in two ways. one is the average and the other is the marginal. on average, what are people paying, what is their tax liability? for people who are low and moderate income, on average their federal income tax liability, not their total tax liability. the federal income tax is negative. we're using taxes to redistribute income to low and moderate income households generally
incpo tax. we are not having a conversation in washington about changes to the payroll tax system. someone could introduce that topic. and we are not having a conversation about changes to federal excise taxes and washington is not having a conversation about how the states should change their tax systems. so for the individual, low and moderate income household, they're facing all sorts of taxes but the tax reform debate is primarily related to income tax. i'll just say two specific things...
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38
Oct 4, 2015
10/15
by
CSPAN
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eye 38
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we would go from a zero to 10% flat tax, and a 0-25% sales tax. if you are an immigrant, and you don't want to pay taxes, if you , a u.s. cheater, and don't want to pay taxes, i don't give a damn. ,hatever you pay or by excluding groceries, you will pay a 25% tax. that way we have a one sheet tax form. ofrybody will have a degree fairness. we no longer belabor our thoughts with immigrants who are illegal, undocumented, or whatever. everybody has a choice, and their choice will be either pay plus thelat tax, progressive sero-25% sales tax, and that would be my remedy. i thank you for listening to me that another viewer says takers should pay tax as well, on the first dollar of welfare or swindling income. "l.a. times" focusing on those leaving syria. it is sports on the front page of "the chicago tribune," "a beautiful baseball dream." as one t-shirt says, anyone can have a bad century. the chicago cubs in the playoffs , looking for a world championship. lawrence from new york. dy.will go to ru on the democrats line, daytona beach, florida. caller:
we would go from a zero to 10% flat tax, and a 0-25% sales tax. if you are an immigrant, and you don't want to pay taxes, if you , a u.s. cheater, and don't want to pay taxes, i don't give a damn. ,hatever you pay or by excluding groceries, you will pay a 25% tax. that way we have a one sheet tax form. ofrybody will have a degree fairness. we no longer belabor our thoughts with immigrants who are illegal, undocumented, or whatever. everybody has a choice, and their choice will be either pay...
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0.0
Aug 14, 2022
08/22
by
CSPAN
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a gift tax, but yarn for sweaters is tax-free. after the decision, small businesses are on the hook. essentially forced into hiring consultants to get it all straight. my view is that as long as the wayfarer ruling stands, congress should step in and get concrete, actual relief for businesses that are really hurting. small businesses that have revenue under thresholds. they should layout what states can require. that is what they sought to accomplish when we introduced the online sales and small business relief act. my belief is that you see increasing numbers of oregon small businesses hassled by authorities over tax liability that they cannot effectively dispute. this is a conflict that should be help -- that they should help prevent. the bottom line is that small businesses have a challenge just trying to keep their doors open. they should not have to spend on sales tax consultants and software. this is an opportunity for us to lower the cost of small business and reduce their headaches. again, i want to thank the senator for h
a gift tax, but yarn for sweaters is tax-free. after the decision, small businesses are on the hook. essentially forced into hiring consultants to get it all straight. my view is that as long as the wayfarer ruling stands, congress should step in and get concrete, actual relief for businesses that are really hurting. small businesses that have revenue under thresholds. they should layout what states can require. that is what they sought to accomplish when we introduced the online sales and...
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if you if you have these tax cuts these bush tax cut tax cuts it doesn't necessarily mean they're going rich people are going to grow the economy doesn't necessarily mean they're going to invest in the economy it doesn't necessarily mean they're going to create jobs do you agree or disagree with that. as generally as i can i would agree with. the bush tax cuts of. income filers of all income brackets and so you may see more investment being spurred by cuts to the rich as a result for two earlier by some trickle down effect but the low income earners are also benefiting from from these tax cuts which are set to expire and twenty thirteen in addition to that low income earners are also benefiting right now from a two percent reduction absolute two percent reduction from six point five to four point five percent on the payroll tax tax which directly goes towards social security and medicaid benefits and this tax does by a greater proportion a fact the wealth and income of low income earners. but at a time when we when we have a serious fiscal. crisis in the united states the debt and defic
if you if you have these tax cuts these bush tax cut tax cuts it doesn't necessarily mean they're going rich people are going to grow the economy doesn't necessarily mean they're going to invest in the economy it doesn't necessarily mean they're going to create jobs do you agree or disagree with that. as generally as i can i would agree with. the bush tax cuts of. income filers of all income brackets and so you may see more investment being spurred by cuts to the rich as a result for two...
0
0.0
Sep 30, 2022
09/22
by
CSPAN3
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tax state. however, in light of states expanded rights and sellers rights to new access. small businesses in particular face new responsibilities and challenges. the difference hundreds of threshold between states and localities can create a burdensome and complex system that can make business difficult for small businesses. sellers must now learn to comply with the myriad of checks -- tax jurisdictions where there consumers reside, or higher tax consultants. this can be time-consuming and expensive for small businesses who do not collect sales taxes but must remit sales taxes to other state. with the attempt to ease these burdens, a comprehensive solution to this problem remains evasive. the right of states to levy taxes and to empowerment into polities to do the same is well-founded founded on the principle of sin eight sovereignty. on the other hand -- on the principle of state sovereignty. on the other hand, there must be a balance struck between states collecting sales tax due and ensuring
tax state. however, in light of states expanded rights and sellers rights to new access. small businesses in particular face new responsibilities and challenges. the difference hundreds of threshold between states and localities can create a burdensome and complex system that can make business difficult for small businesses. sellers must now learn to comply with the myriad of checks -- tax jurisdictions where there consumers reside, or higher tax consultants. this can be time-consuming and...
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Nov 17, 2014
11/14
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CSPAN3
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eye 25
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, business taxes, local taxes, payroll taxes, not only do you have to pay all those taxes, but you have to administer that tax system on behalf of the federal government. you have to withhold from employees, deal with sales taxes. so small businesses are the only ones faced in the full bankrupt of everything our tax system has to offer. and i'd also like to point out that as much as our members hate paying taxes and think they pay too much in taxes. when you ask them the biggest burden of the tax system is, they tell you it is actually the administration of the taxes. the complexity and the burden and the time that requires of them to deal with the payroll tax system and state tax system and the excise tax system that we have in the country today. you think about it from the current system that we have, especially the income tax, but also the payroll tax, it discourages entrepreneurs and sbrep. neuroship at virtually every level. they see it as punishment in the american dream. every stage faces significant taxes. the startup level, savings or tax, investors are made after tax dollars a
, business taxes, local taxes, payroll taxes, not only do you have to pay all those taxes, but you have to administer that tax system on behalf of the federal government. you have to withhold from employees, deal with sales taxes. so small businesses are the only ones faced in the full bankrupt of everything our tax system has to offer. and i'd also like to point out that as much as our members hate paying taxes and think they pay too much in taxes. when you ask them the biggest burden of the...
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59
May 19, 2017
05/17
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CSPAN3
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eye 59
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on our tax system with high tax rates and outdated international tax rules and a significant tax compliance burden, we have the best chance in over 30 years to advance significant tax reformg and must take full advantage of this opportunity. it will enhance u.s. economic growth. since the last major reform in 1986 manufacturers in the u.s. have innovated but the tax code has not. with the combined statutory corporate tax rate that can top 38%, manufacturers face the highest corporate tax rate among the nations. this is a competitive problem. and top rates can be higher. and this hurts their investment opportunities. over the past three years emerson paid $1.8 billion annually in taxes worldwide. more than half of that was paid in the united states. at an average effective tax rate of approximately 32% and a marginal tax rate of over 37%. emerson pays real tax cashes here in the united states. a key objective shared by emerson is a top fed call tax rate of 15%. we must lower the tax rate for pass through entities, smaller companies in the u.s. manufacturing supply chain. lower rates will mak
on our tax system with high tax rates and outdated international tax rules and a significant tax compliance burden, we have the best chance in over 30 years to advance significant tax reformg and must take full advantage of this opportunity. it will enhance u.s. economic growth. since the last major reform in 1986 manufacturers in the u.s. have innovated but the tax code has not. with the combined statutory corporate tax rate that can top 38%, manufacturers face the highest corporate tax rate...
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Oct 28, 2015
10/15
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ALJAZAM
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who want to lower taxes. >> i would like to see my taxes go down. it's my money, so the more i can keep, the better off i would be. >> reporter: paying less in taxes means less to a family's finances but other to the nation. >> there's always a tradeoff. >> less revenue for the government means cuts somewhere, right? whether to mandatory spending to social security and medicare, which combine to take up nearly half of the entire budget, or discretionary spending like defense and education. >> i like care, that's the one that i use. >> reporter: here's how the republicans come at it. cutting tax rates stimulates the economy, which creates more revenue, though the rates are lower, because it creates more to tax. does it work? governor brownback of kansas is trying it, and what he calls his real life experiment. the economy has expanded but so far the tax revenues have plummeted. and he faces a half a billion-dollar deficit. we paid 1 and a half trillion dollars in income taxes this fiscal year. compared to what americans paid in 1980, it's a smaller p
who want to lower taxes. >> i would like to see my taxes go down. it's my money, so the more i can keep, the better off i would be. >> reporter: paying less in taxes means less to a family's finances but other to the nation. >> there's always a tradeoff. >> less revenue for the government means cuts somewhere, right? whether to mandatory spending to social security and medicare, which combine to take up nearly half of the entire budget, or discretionary spending like...
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129
Apr 23, 2012
04/12
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CSPAN3
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eye 129
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tax. i believe the complexity of the tax code is responsible for a considerable portion of noncompliance and i have repeatedly recommended in my reports to congress that you all simplify the code. while you're working on that and i am ever the optimist in that regard, that there are other steps that can be taken. first, the irs should be give at any resources to substantially improve its taxpayer services. the percentage of calls the irs answers known as the level of service has been declining in recent years, for the year to date about one out of every three calls seeking to reach an irs representative hasn't gotten through. when taxpayers have managed to get through taxpayers have waited an average of 14 minutes on hold. the irs is also behind in timely processing taxpayer correspondence, with the percentage of letters classified as over age at nearly half of all correspondence by the end of fiscal year 2011. there is no doubt in my mind but that some taxpayers give up in frustration or
tax. i believe the complexity of the tax code is responsible for a considerable portion of noncompliance and i have repeatedly recommended in my reports to congress that you all simplify the code. while you're working on that and i am ever the optimist in that regard, that there are other steps that can be taken. first, the irs should be give at any resources to substantially improve its taxpayer services. the percentage of calls the irs answers known as the level of service has been declining...
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57
Oct 29, 2017
10/17
by
CSPAN
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eye 57
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the tax that everyone pays our payroll taxes and state and local taxes. only the income tax, which is what this do. to president is trying provide tax relief to middle income americans. even fewer people will bear any income tax liability on the federal level at all. and an increase in the child tax credit. that's another proposal the president has put forward. those are core components of this tax plan. we should not just look at the distribution, which is going to be heavily skewed to the wealthiest because they pay most of the federal income tax. the impact isw going to be distributed across our economy. it will benefit all americans and especially a wage worker. that is not something we are just making up. corporations will not have a choice whether or not to increase wages. there is more demand for workers in the united states as a response to this tax cut, it will bring more business activity to america. we just don't say this. we know this from the historical record. we have seen this and other countries that have lower the corporate rates. it will
the tax that everyone pays our payroll taxes and state and local taxes. only the income tax, which is what this do. to president is trying provide tax relief to middle income americans. even fewer people will bear any income tax liability on the federal level at all. and an increase in the child tax credit. that's another proposal the president has put forward. those are core components of this tax plan. we should not just look at the distribution, which is going to be heavily skewed to the...
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103
Apr 14, 2014
04/14
by
FOXNEWSW
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eye 103
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the corporate tax, dividend tax, capital gains tax, taxing the dollar three times. >> david on the left worked for the new york sometimtimes he's socialist. >> the tax foundation you represent the rich people. where is the difference? >> we are concerned about workers and the poor and general welfare and the thing is, the best thing for the poor is to stop the excessive tax burdens. >> wone thing the current tax system protects existing wealth and holds back strivers. if we want them more prosperous it is the strivers. things like no estate tax you end up with 18th century france and we know how that ended. >> are you saying donald trump or schriver is strivers. >> what about inhair hans? >> inheritance tax is not a big one in tax revenue. >> what people have done to avoid the estate tax involves enormous things. it is to back up the income tax. past of the problem is the political power you are see can is focused on protecting existing wealth not promoting the creation of new wealth. if you have integrity we would be much better off on the long run. >> by that the drivers i absolu abso
the corporate tax, dividend tax, capital gains tax, taxing the dollar three times. >> david on the left worked for the new york sometimtimes he's socialist. >> the tax foundation you represent the rich people. where is the difference? >> we are concerned about workers and the poor and general welfare and the thing is, the best thing for the poor is to stop the excessive tax burdens. >> wone thing the current tax system protects existing wealth and holds back strivers. if...
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24
Nov 14, 2017
11/17
by
CSPAN3
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eye 24
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individual income tax under the chairman's mark would provide for seven tax brackets with marginal tax rates of 10%, 12%, 22.5% 25%, 32.5%, 35% and a new top rate of 38.5%. which unlike present would eliminate the marriage penalty and the threshold break point. the chairman's mark would repeal the individual alternative minimum tax. the chairman's mark nearly doubles the present law standard deduction to have a value of $24,000 for married joint filers, $18,000 for head of households, $12,000 for all other filers. but at the same time, the mark would repeal several itemized deductions, including the presently law deduction force state and local income or sales taxes, personal property taxes, real property taxes, excess casualty losses and itemized deductions that are otherwise subject to the 2% floor. that means that the mark would retain the mortgage interest deduction with a modification, the deduction for charitable contributions, and medical expenses. the mark would also repeal the present law limitation on itemized deducks known colloquially as the peas limitation. the aggregate e
individual income tax under the chairman's mark would provide for seven tax brackets with marginal tax rates of 10%, 12%, 22.5% 25%, 32.5%, 35% and a new top rate of 38.5%. which unlike present would eliminate the marriage penalty and the threshold break point. the chairman's mark would repeal the individual alternative minimum tax. the chairman's mark nearly doubles the present law standard deduction to have a value of $24,000 for married joint filers, $18,000 for head of households, $12,000...
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Feb 26, 2023
02/23
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CSPAN2
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eye 54
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it was taxes. certainly when we think of the conditions in the united states, politically, economically, 1929, 1930, the very dawn of the great depression, we should recognize that only for 13 years of american history, for 17 years i'm sorry, in american history, at that point had the nation had an income tax, never had an income tax for any duration at all prior to 1913. so as new income tax in the united had always relied on the tariff to carry its revenue load, along with excise taxes like on alcohol. but then when they passed the biggest tariff in american history in 1930, the smoot-hawley, you had both the biggest tariff in american history, plus an income tax that at the top was taking 25% of income. this was a completely unprecedented governmental fiscal imprint, tax imprint on the american. so just naturally should expect that a great depression would have occurred then if you're a visitor from mars. just looking at, you know, what changed in terms of american taxation from 1789 to 1930, y
it was taxes. certainly when we think of the conditions in the united states, politically, economically, 1929, 1930, the very dawn of the great depression, we should recognize that only for 13 years of american history, for 17 years i'm sorry, in american history, at that point had the nation had an income tax, never had an income tax for any duration at all prior to 1913. so as new income tax in the united had always relied on the tariff to carry its revenue load, along with excise taxes like...
0
0.0
Nov 8, 2017
11/17
by
CSPAN2
quote
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station wagon tax code corporate tax rates are no longer competitive. they encourage companies to invest abroad rather than here at home in the united states. back in 1986 when this caroled off the assembly line, our corporate rate was competitive. it didn't discourage companies from investing in the u.s. but things have significantly changed since 1986. foreign countries have figured it out. they've lowered their tax rates and now the u.s. has the highest corporate tax rate in the developed world. indeed one of the highest corporate tax rates in the world, period. consequently businesses have moved abroad more and more and invested more abroad and in the u.s. they've invested less and less. but it's not a republican view alone. in fact, i would draw your attention to this quote right here. president obama noted this gradual deterioration of corporate tax code, this gradual deterioration of our corporate tax code in his 2011 state of the union address saying that over the years a parade of lobbyists has rigged the tax code to benefit particular companie
station wagon tax code corporate tax rates are no longer competitive. they encourage companies to invest abroad rather than here at home in the united states. back in 1986 when this caroled off the assembly line, our corporate rate was competitive. it didn't discourage companies from investing in the u.s. but things have significantly changed since 1986. foreign countries have figured it out. they've lowered their tax rates and now the u.s. has the highest corporate tax rate in the developed...
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57
Feb 22, 2015
02/15
by
CSPAN2
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eye 57
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but sin taxes are tiny taxes. if you get rid of all the federal taxes static revenue neutral, full employment, where your tax bill is -- the highest you could replace all federal taxes today with a flat rate tax on personal unadjusted gross income, and a flat rate tax on business net sales -- go ahead, call it value-added -- you can do that at a rate of 11.8% static revenue neutral, no laffer curve effect, none of that. can you imagine what this country would look like today if we had a flat federal income tax of 12% and a flat federal value added tax of 12%? and that's it? i mean you wouldn't even have to file a tax return for god's sakes. you company owes you 100 bucks, they send you 88 and it's off. if you moe your neighbor's lawn for ten bucks you have to write a check for 1.20. that's where we should go on growth. >> i think we have time for one or two more questions. >> in addition to the legislative taxes you just described there, now systems of shadow taxation whether in the form of college financial aid p
but sin taxes are tiny taxes. if you get rid of all the federal taxes static revenue neutral, full employment, where your tax bill is -- the highest you could replace all federal taxes today with a flat rate tax on personal unadjusted gross income, and a flat rate tax on business net sales -- go ahead, call it value-added -- you can do that at a rate of 11.8% static revenue neutral, no laffer curve effect, none of that. can you imagine what this country would look like today if we had a flat...
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Nov 15, 2017
11/17
by
CSPAN2
tv
eye 37
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tax, that would provide for seven tax brackets with tax rates of 10 or 12 for 22 1/2% or 35% top rate of 40-point 5% which will eliminate the marriage to help -- penalty as the breakpoint as the amt the chairman's mark to the standard deduction of $24,000 for the very joint filers or head of household. but the mark would repeal those deductions including the present lot deduction or real property taxes or excess casualty licensed -- losses better subject at the two-person floor so the mark retain the mortgage interest deduction for charitable zero contributions it and would repeal on itemized deductions with that limitation. so the aggregate of facts -- defect with present law cost 29% the taxpayers claim itemized deductions of approximately 5% claim itemized deductions. with the individual income-tax to reveal personal exemptions but expanded the child credit at $1,650 for a child under 18 but also expansion of eligible children and 1,000 of that is refundable to be indexed in the future in addition for other children there is of $500 credit. also the phase-out of the credit would be
tax, that would provide for seven tax brackets with tax rates of 10 or 12 for 22 1/2% or 35% top rate of 40-point 5% which will eliminate the marriage to help -- penalty as the breakpoint as the amt the chairman's mark to the standard deduction of $24,000 for the very joint filers or head of household. but the mark would repeal those deductions including the present lot deduction or real property taxes or excess casualty licensed -- losses better subject at the two-person floor so the mark...
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38
Mar 15, 2017
03/17
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MSNBCW
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eye 38
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we have two tax systems, well-to-do people, you and i file -- calculate our tax twice, the regular tax system and the alternative minimum tax. if we didn't have the alternative minimum tax and donald trump in writing wants to end the alternative minimum tax he would have paid taxes at a lower rate than the bottom half of taxpayers, the the poor in this country who make less tn $33,000. think about that, $153illion almost of income, he would have paid a little over $5 million less than 3.5%, less than the half of taxpayers who make under $33,000. as it is, because of the alternative minimum tax he paid $36.5 million, not the $38 the white house statement says. they're counting his self-employment tax which is payroll taxes. $36.5 million, he paid 24%. you know who pays 24% in this country? married couples with two incomes like my wife and i who make around $400,000 a year. donald trump and his wife that year made $418,000 a day. and the point of this is the top in this country, people at the top are not burdened the way we suggest. i was in -- >> let me stop you and restate some of that
we have two tax systems, well-to-do people, you and i file -- calculate our tax twice, the regular tax system and the alternative minimum tax. if we didn't have the alternative minimum tax and donald trump in writing wants to end the alternative minimum tax he would have paid taxes at a lower rate than the bottom half of taxpayers, the the poor in this country who make less tn $33,000. think about that, $153illion almost of income, he would have paid a little over $5 million less than 3.5%,...
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37
Jul 20, 2017
07/17
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CSPAN3
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eye 37
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, but they pay payroll taxes, pay into local and state taxes, they pay sales taxes in places and they're burdened by these taxes. so the earned income credits and the child refundable -- child tax credit is an important way to assist these families. refunds go to, you know, buying a car, helps you go to work or paying off bills or doing very, very important things that also generate economic activity in all of the communities across the country that many of the members of the committee represent. >> and in the final seconds, can you please tell me what is the -- what would be the outcome of our tax code and doing a tax reform that only cuts -- that cuts -- that gives majority of the tax cut benefit to the very wealthy? what will that mean for our country? >> my concern -- thank you, congresswoman. i mentioned that the wealth gap now between latinos and non-latino, white households is 10-to-1 on the dollar. my fear is that grows, with increasing incentives for those at the very top of the wealth scale when we eliminate inheritance taxes, when we look at the passthrough taxes and we're jus
, but they pay payroll taxes, pay into local and state taxes, they pay sales taxes in places and they're burdened by these taxes. so the earned income credits and the child refundable -- child tax credit is an important way to assist these families. refunds go to, you know, buying a car, helps you go to work or paying off bills or doing very, very important things that also generate economic activity in all of the communities across the country that many of the members of the committee...
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21
Sep 21, 2014
09/14
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KCSM
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eye 21
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taxes. here's what president obama said recently about that practice, known as inversion. >> now, here's the problem is this loophole they're using in our tax laws is actually legal. it's so simple and so lucrative, one corporate attorney said it's almost like the holy grail of tax avoidance schemes. my attitude is i don't care if it's legal, it's wrong. >> now look at this recent headline in "the new york times." reluctantly, patriot flees homeland for greener tax pastures. it's about a u.s. generic drug company incorporating in the netherlands. reluctantly, my eye. skipping out on america means more profits for the company and bigger bonuses for the ceo. tax-dodging is big business, which has one of our world's most noted economists plenty angry -- nobel laureate joseph stiglitz. he's president of the international economic association and served as chairman of the white house council of economic advisers back in the '90s. his best-selling books have shaped worldwide debate. and now he's w
taxes. here's what president obama said recently about that practice, known as inversion. >> now, here's the problem is this loophole they're using in our tax laws is actually legal. it's so simple and so lucrative, one corporate attorney said it's almost like the holy grail of tax avoidance schemes. my attitude is i don't care if it's legal, it's wrong. >> now look at this recent headline in "the new york times." reluctantly, patriot flees homeland for greener tax...
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156
Dec 17, 2010
12/10
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CSPAN
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eye 156
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failure to extend the current tax -- individual tax rate is a tax hike on small businesses. my colleagues who want to discuss comprehensive tax reform should remember that extending all of the rates now will give us a chance to have that discussion without adding a massive tax increase on small businesses. avoiding this tax hike is just as important for families across this country as it is for small businesses. millions of americans are employed by small businesses that face -- that will face this tax hike and in many cases their wages and their jobs hang in the balance of the decision that we will make here today. the business world needs certainty and families need certainty. certainty to plan for the cost of higher education for their children, certainty to buy a home that they can call their own, and certainty for the day to day task of making ends meet, just providing for the basic needs of their family. people are struggling, families are hurting and the last thing we need government to do is to reach deeper into their pockets and take their hard-earned dollars. this
failure to extend the current tax -- individual tax rate is a tax hike on small businesses. my colleagues who want to discuss comprehensive tax reform should remember that extending all of the rates now will give us a chance to have that discussion without adding a massive tax increase on small businesses. avoiding this tax hike is just as important for families across this country as it is for small businesses. millions of americans are employed by small businesses that face -- that will face...
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31
Mar 4, 2017
03/17
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CSPAN2
tv
eye 31
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., zero tax rate. this means our tax code provides tax breaks for foreign products over made in america product. and this means you have to tax from mexico in china and around the world and they get tax breaks over american-made products. we tax are made in america products and americans don't. but today we lose at home and loose abroad. another the foreign competitors tax this way. on this map behind me you can see our global competitors in blue, they take take their taxes off their products they slap taxes on the products going into their country. and read you'll see a few of us that don't to either. we lose here and this abroad. it's a america and a few other economies like cuba north korea and iran. american workers are getting the shaft. not not anymore. under our plan all products sold in america will be taxed equally at a low equal business rate and if you're american-made product is sold around the world we are no longer taxing it. you can compete on a level playing field. if anyone knows how t
., zero tax rate. this means our tax code provides tax breaks for foreign products over made in america product. and this means you have to tax from mexico in china and around the world and they get tax breaks over american-made products. we tax are made in america products and americans don't. but today we lose at home and loose abroad. another the foreign competitors tax this way. on this map behind me you can see our global competitors in blue, they take take their taxes off their products...
16
16
Nov 30, 2017
11/17
by
CSPAN2
tv
eye 16
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tax code. as the liberal tax policy center paper points out the value of the personal exemption is largely dependent on the tax bracket of the taxpayer. the higher the tax bracket the more benefit that comes from the personal exemption. in comparison, the child tax credit generally lowers a taxpayer's tax liability dollar for dollar, regardless of the tax bracket. as a result, repealing personal exemption in favor of expanding the child tax credit makes the tax code more progressive and targets more relief to lower and middle-income taxpayers. admittedly there are some differences between what was suggested by the liberal tax policy center and what is in the bill before us. its proposal would have been more generous on the refundable feature of the child tax credit. but on the opposite end they would have made the child tax credit available to everyone, even including millionaires. the finance bill is less generous to the affluent because it phases out the credit for married taxpayers with inco
tax code. as the liberal tax policy center paper points out the value of the personal exemption is largely dependent on the tax bracket of the taxpayer. the higher the tax bracket the more benefit that comes from the personal exemption. in comparison, the child tax credit generally lowers a taxpayer's tax liability dollar for dollar, regardless of the tax bracket. as a result, repealing personal exemption in favor of expanding the child tax credit makes the tax code more progressive and targets...
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83
Aug 2, 2012
08/12
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CSPAN
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eye 83
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don't tax me, tax the guy behind the tree. we all know, democrats and republicans alike, there is a desire to make this happen. there is always talk from democrats and republicans. again, president obama has said we need to bring about tax reform. president obama has said we need to reduce the top corporate rate from that 35% level. i congratulate him for acknowledging we have the highest corporate tax rate of any nation on the face of the earth. now that japan has lowered theirs, mr. speaker. so everybody talks about it but the question is how do we actually get it done? now, my friends said that will if we really wanted to do it we could have done it. well, there are specifics in this measure. there's specifics, we have five, included among them, engshuring that we repeal the alternative minimum tax. everyone acknowledges how terrible that is. ensuring that we have two rates of not more than 10% and 25%, and, yes, doing what president obama has said we need to do and that is reducing the top corporate rate. this calls for 35
don't tax me, tax the guy behind the tree. we all know, democrats and republicans alike, there is a desire to make this happen. there is always talk from democrats and republicans. again, president obama has said we need to bring about tax reform. president obama has said we need to reduce the top corporate rate from that 35% level. i congratulate him for acknowledging we have the highest corporate tax rate of any nation on the face of the earth. now that japan has lowered theirs, mr. speaker....
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Mar 29, 2024
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tax. every dollar you are taxing from inheritance is a dollar you don't have to tax from hard work or economic growth. we extended the standard deduction for the reasons she said and i think i'm running out of time, so we can talk about those later. >> daniel i know you and your colleagues are looking at your plan, but you have the basic outline. can you tell us about it? >> when we approached what to do, we started this work a while ago and we wanted to set out what aspirational plans would look like. tax reform similar to what kyle is describing. what we're working on currently, we have tighter constraints. number one is revenue neutrality and a neutral tax plan. another aspect is looking what levers we can double down on in order to provide a tax code that is progrowth. when we were preparing for this was a bang for your buck analysis for what would be most substantive for long-term growth. i'm an agreement on the value of cost recovery for a progrowth tax code. this is a critical piece
tax. every dollar you are taxing from inheritance is a dollar you don't have to tax from hard work or economic growth. we extended the standard deduction for the reasons she said and i think i'm running out of time, so we can talk about those later. >> daniel i know you and your colleagues are looking at your plan, but you have the basic outline. can you tell us about it? >> when we approached what to do, we started this work a while ago and we wanted to set out what aspirational...
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Apr 6, 2014
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tax policy. we are going to be talking about tax reform which is the holy grail of tax policy. it is sought after. there are rumored sighting all of the time. there have been recent tigsights like tom camp and ron whiten promises after extending the 5,000 stupid tax extenders for the last time there will be tax reform and it will never happen again. president obama called a tax reform commission, president bush called it. their independent tax reform commissions. we have lots of commissions which must mean tax reform is coming soon. by the way, tomorrow is april fools day. the -- i don't want to steal the thunder of this group. these people know how we will get the tax reform and they will tell us how to get there. the moderator is howard glekman who is the senior fellow and the editor and chief of the tax blog. one other piece of information, i googled holy grail before today's talk. it has been found. it is in the leon, spain area so tax reform is coming. >>> this is an unusual event. we normal
tax policy. we are going to be talking about tax reform which is the holy grail of tax policy. it is sought after. there are rumored sighting all of the time. there have been recent tigsights like tom camp and ron whiten promises after extending the 5,000 stupid tax extenders for the last time there will be tax reform and it will never happen again. president obama called a tax reform commission, president bush called it. their independent tax reform commissions. we have lots of commissions...
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Dec 18, 2010
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these taxes? >> well, the supreme court has said "yes." the supreme court has said it is a burden on interstate congress because it is so complicated. and it still is so complicated. you know, there are 7,500 taxing jurisdictions in the united states. there were that many before scott's group started, and there are that many now. what is tax and what is defined as taxation is all changed. and the point is, these are out of state. it's not all sneth internet sales that these are collected for. it is from a company that has no presence within the state, so that they have no employees, no facilities within that state. they have no political power within that state. they get none of the benefit from any of the schools, fire, police, yet they are being asked to become unpaid tax collectors. that, we think, is not fair. we think that puts an unfair burden on them. the taxes in the states -- states do other things to collect tax from the internet and other ways as well. alabama just sent out a letter to
these taxes? >> well, the supreme court has said "yes." the supreme court has said it is a burden on interstate congress because it is so complicated. and it still is so complicated. you know, there are 7,500 taxing jurisdictions in the united states. there were that many before scott's group started, and there are that many now. what is tax and what is defined as taxation is all changed. and the point is, these are out of state. it's not all sneth internet sales that these are...